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Property damage liability. This coverage is designed to pay, fix or replace other people's property you damage in an accident, whether it's their car, motorcycle, boat, bicycle, fence, mailbox ...
For instance, you might see $25,000 under your property damage coverage on your auto policy. This means you have $25,000 worth of coverage to repair something you hit, such as another car, a pole ...
Liability coverage also includes property damage liability, which pays for the damages you cause to the other party’s vehicle, as well as for damage you cause to items like fences, buildings and ...
The first two numbers seen are for medical coverage. In the 100/300 example, the policy will pay $100,000 per person up to $300,000 total for all people. The last number covers property damage. This property damage can cover the other person's vehicle or anything that you hit and damage as a result of the accident.
The minimum coverage defined by German law for car liability insurance / third-party personal insurance is €7,500,000 for bodily injury (damage to people), €500,000 for property damage and €50,000 for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. [24]
This type of coverage is meant to prevent the possibility that a motorist will have to pay for medical expenses and property damage to his vehicle as a result of the accident with the underinsured at-fault motorist. The ramifications related to being hit by an underinsured motorist vary by individual state laws. [citation needed]